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Range for the Day

JJJJJJJJ ✭
in Market Analysis
My trading platform has a graphical indicator that shows a real time of the high and the low of the day and a sliding indicator that moves thru out the day to show where the stock is currently trading. As the day progresses, can I infer anything based on where the stock is trading as compared to the daily high and low ? Especially if I am contemplating whether to get in on a particular stock during the day.

Comments

  • markdmarkd mod
    Generally, I would say no. Assuming you are trading in a longer term time frame, e.g., you believe the stock has completed a down leg and it to advance to its previous high within the next few weeks, then the intraday movements of price are "noise".

    But, if you want to fine tune the entry (or exit) I think you would want to look at intraday time frames - 60, 30, 15, 5 minute charts and look for support levels or bullish patterns there.
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